XL Capital Ltd Declares Quarterly Dividend Of $0.38 Per Ordinary Share And Declares Dividends On Series A and Series B Preference Ordinary Shares

HAMILTON, BERMUDAWed Jul 26, 2006 —
HAMILTON, BERMUDA - July 26, 2006 - XL Capital Ltd ("XL" or the "Company") (NYSE: XL) announced today that its Board of Directors declared a quarterly dividend on July 26, 2006, of $0.38 per Ordinary Share payable on the Company's Ordinary Shares. The dividend will be payable on September 29, 2006, to Ordinary Shareholders of record on September 11, 2006.The Board of Directors also resolved on July 26, 2006, to pay a dividend of $0.50 per share on October 2, 2006, to all Series A Preference Ordinary Shareholders of record on September 29, 2006. The aggregate amount of the dividends payable on the Series A Preference Ordinary Shares is $4,600,000.00.The Board of Directors further resolved on July 26, 2006, to pay a dividend of $0.4765625 on October 2, 2006, to all Series B Preference Ordinary Shareholders of record on September 29, 2006. The aggregate amount of the dividends payable on the Series B Preference Ordinary Shares is $5,480,468.75.XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products and services to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of June 30, 2006, XL Capital Ltd had consolidated assets of approximately $58.5 billion and consolidated shareholders' equity of $8.5 billion. More information about XL Capital Ltd is available at www.xlgroup.com.